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MATHICO

Active Private limited companyfounded 2015active for 11 yearsRue de Wattines (C.W.) 15, 7903 Leuze-en-HainautKBO/BCE: BE 0632.644.787 #8 company by equity in Leuze-en-Hainaut, Professional and technical services sector

Overview

Lifetime

10 annual accounts with figures on one time axis
peak €161,730 (2025)
€58,729▼ 63.7%
peak €118,682 (2019)
€2,987▼ 96.3%
peak €668,321 (2026)
€668,321▲ 0.4%
€318,992▼ 12.6%
Board2 names since 2015
Documentsfilings and deeds
21-10-202610 days before the deadline
2026abbreviated format
Gross margin from €161,730 to €58,729Result from €80,252 to €2,987

Key points

from the 2026 annual accounts

Equity

€668,321 ▲ 0.4%

MATHICO has made a profit in every financial year since 2017.

Result

€2,987 ▼ 96.3%
€80,3002025€2,9902026

The result fell in 2026 from €80,252 to €2,987.

Filings

10 annual accounts 1 late
deadline20202025

The 2017 accounts came 21 days late. The other nine were filed on time.

Checked score

85
Excellent
Financially stronger than 52% of micro companies in head offices and management consultancy (NACE 70)
Probability in this band: under 0.55%
Bankruptcy probability within 12 months
0.3% Very low
0%0.5%1.5%4%10%≥ 25%

The dashed line is the sector median: 0.1% across 48,568 companies (NACE 70, micro).

About 3 in 1,000 comparable companies go bankrupt within 12 months (an estimate).

Last 24 months 12-2024: 0.1%lowest value 01-2025: 0.1%● unchanged vs 12-2024lowest value 02-2025: 0.1%● unchanged vs 01-2025lowest value 03-2025: 0.1%● unchanged vs 02-2025lowest value 04-2025: 0.1%● unchanged vs 03-2025lowest value 05-2025: 0.1%● unchanged vs 04-2025 06-2025: 0.1%● unchanged vs 05-2025 07-2025: 0.1%● unchanged vs 06-2025 08-2025: 0.1%● unchanged vs 07-2025 09-2025: 0.2%▲ +0.1 percentage points vs 08-2025 10-2025: 0.2%● unchanged vs 09-2025 11-2025: 0.4%▲ +0.2 percentage points vs 10-2025highest value 12-2025: 0.4%● unchanged vs 11-2025 01-2026: 0.4%● unchanged vs 12-2025 02-2026: 0.4%● unchanged vs 01-2026 03-2026: 0.4%● unchanged vs 02-2026 04-2026: 0.4%● unchanged vs 03-2026 05-2026: 0.4%● unchanged vs 04-2026 06-2026: 0.3%▼ -0.1 percentage points vs 05-2026 07-2026: 0.4%▲ +0.1 percentage points vs 06-2026 08-2026: 0.4%● unchanged vs 07-2026 09-2026: 0.4%● unchanged vs 08-2026 10-2026: 0.3%▼ -0.1 percentage points vs 09-2026 11-2026: 0.3%● unchanged vs 10-2026

Financial strength
Strong

93+4equity 67.7% of total assets
77-2short-term debt 28.4%
69-9return on assets 0.3%

Score breakdown

raises risk
Liquidity: current ratio 0.01
lowers risk
Sector: Activities of head offices; management consultancy activities (NACE 70)
Size: total assets €987,849
Equity €668,321 (67.7% of total assets)
Calculation

The band follows from the bankruptcy probability. 10 more points roughly halve it.

75-100 Excellent under 0.55%
60-74 Healthy 0.55% to 1.5%
45-59 Fair 1.5% to 4.2%
25-44 Weak 4.2% to 15.0%
0-24 Critical over 15.0%

Where the company stands within its band depends half on the bankruptcy probability and half on how it does against its sector peers (NACE 70, micro). It does better than 63% of them on solvency, 69% on liquidity, 32% on profitability and 42% on growth.

The bankruptcy probability was computed on 07-11-2026 by the bankruptcy model of 2 October 2026, which learns from Belgian bankruptcies and reads the registers, the annual accounts and the Belgian Official Gazette.

The probability rests on the annual accounts with balance sheet date 31-03-2026.

Of the companies with a bankruptcy probability in the very low class on 30-06-2025, 0.1% went bankrupt within twelve months.

Some facts cap the score, however low the probability. With negative or zero equity, a heavy loss, a special status in the KBO, one missing filing or accounts filed more than 90 days late, the score is Fair at most (59). With two missing filings, it is Weak at most (44). During a judicial reorganisation or at the company's end (bankruptcy, dissolution, liquidation), it is Critical at most (24).

Credit verdict

Credit of up to €55,000 on 30-day terms is acceptable

Liquidity is insufficient, with a current ratio of 0.01 (0.01 in 2025), below 1. Short-term debt is 28.4% of total assets. 32.3% of the assets are financed with debt and provisions.

Credit check for an amount and term of your choice

Show the recommended maximum and see how the verdict changes with amount, term and advance.

The scores and ratios are Checked's own calculations, not a credit decision.

Signals

Five signals.
lowers riskraises riskneutral
raises risk · Liquidity: current ratio 0.01
NBB · annual accounts
lowers risk · Sector: Activities of head offices; management consultancy activities (NACE 70)
KBO
lowers risk · Size: total assets €987,849
Companies of this size fail less often. How much that weighs depends on the rest of the company's profile.
NBB · annual accounts
lowers risk · Equity €668,321 (67.7% of total assets)
NBB · annual accounts
neutral · Latest accounts filed on time
The financial year that closed on 31-03-2026 was due by 31-10-2026 and was filed on 21-10-2026, 10 days ahead of the deadline.
NBB · 10 filings
Deviation from the deadline
2026
10 days early
2025
17 days early
2024
1 day early
2023
7 days early
2022
3 days early
2021
10 days early
2020
3 days early
← before the deadline after the deadline →
tick = median of all Belgian filingsring = median in the sector

The company filed its last 7 accounts on average 7 days before the deadline. In the sector (NACE 70), the median for financial year 2024 was 9 days before the deadline, and 32% of those companies filed late.

Searched, nothing found (2)
neutral · Next filing not due yet
The next financial year closes on 31-03-2027 and is due by 31-10-2027. Nothing is late today. The company usually files around 24 October (5 of the last 5 accounts filed within 30 days either side of that date).
Companies Code · seven months
Where today falls in the filing period
08-11-2026 today31-03-2027 year end31-10-2027 deadline
neutral · No strike-offs in the KBO publications
That holds for every publication since 2021.
KBO publications

Recent changes

Registered in the Peppol Directory Reachable for e-invoices through 0208:0632644787
Appointments: Mambour Delphine Stéphanie Ghislaine (statutory director) and Thirion Laurent André Noël Ghislain (statutory director) General meeting of 20-02-2023 · Gazette deed
Incorporation published on 24-06-2015 · Gazette deed
First establishment Rue de Wattines (C.W.) 15, Leuze-en-Hainaut
All 19 events

Comparable companies

same main activity, similar in size and age
Company
MATHICO Leuze-en-Hainaut €1.0m €58,729 67.7% -
HOLDING ROSA Mouscron €0.9m €52,161 10.0% -
MCCL HOLDING Charleroi €1.1m €65,690 22.6% -
VR INVEST Bruges €1.0m €60,840 13.3% -
Compagnie des Erables Sint-Genesius-Rode €1.0m €60,497 21.2% -
EPSA MARKETPLACE Belgium Ghent €0.9m €59,184 -17.8% -
Backslash Uccle €0.9m €56,205 48.6% -

These companies have the same main activity as MATHICO: business and other management consultancy (NACE 70200). They are comparable in size and age: total assets between €861,000 and €1.1m, founded between 2014 and 2016.

Official details

Source: KBO
Status
Active since 22-06-2015Normal situation
Activity
Business and other management consultancyNACE 70200and 1 other
Establishment unit
2.243.297.0267903 Leuze-en-Hainaut, since 22-06-2015
Financial year end
31 March
Peppol
Reachable since 22-11-2025
Company details

Annual accounts to 31-03-2026

€58,729▼ 63.7%
≈ €120,000estimated
€2,987▼ 96.3%
€668,321▲ 0.4%
€987,849▼ 4.3%
Filing
Filed on 21-10-2026, 10 days before the end of the filing period
Financials

Insights on MATHICO

MATHICO files the abbreviated format. That format states no turnover. The gross margin rose from €49,560 in 2017 to €58,729 in 2026.

Sources: KBO register, filings at the National Bank, Belgian Official Gazette.

Financials

Annual accounts 2026

abbreviated format, filed on 21-10-2026, 10 days before the deadline
€58,729
▼ 63.7%
€12,219
▼ 89.2%
€2,987
▼ 96.3%
-€277,046
▼ €3,496
67.7%
▲ 3.2 percentage points
0.01
▼ 0.00

The turnover shown is an estimate from the gross margin.

Turnover ≈ €120,000. Estimated: probably between €84,000 and €180,000.

Balance sheet

balance sheet total €987,849 on 31-03-2026
What the company ownsHow it is paid for

in euro

Position in the sector

67.7%

Higher than 61% of 10,855 companies in 2025.

0.01

Lower than 95% of 10,477 companies in 2025.

0.3%

Higher than 59% of 10,724 companies in 2025.

MATHICO Middle half of the sector 80% of the sector Abbreviated accounts in head offices and management consultancy (NACE 70)

Filed annual accounts

as filed with the National Bank, click a year to choose it
Line Trend2026202520242023202220212020201920182017
Balance sheet: assets
20/58 987,8491.0m1.1m964,449977,304899,991946,701981,361979,6721.1m
21/28 984,5141.0m1.1m943,511957,072899,467908,809926,395943,980923,096
22/27 92,741136,598180,45551,73865,2997,69417,03634,62252,20731,323
24 92,741136,598180,45551,73865,2997,69417,03634,62252,20731,323
28 891,773891,773891,773891,773891,773891,773891,773891,773891,773891,773
29/58 3,3353,46820,31720,93820,23152437,89154,96735,692135,850
40/41 --9,554-14281017,431785,302
40 --9,554----17,418-84,875
41 ----142810137427
54/58 --4,21413,64420,05033337,72237,53535,68550,549
490/1 3,3353,4686,5497,294167163159---
Balance sheet: equity and liabilities
10/49 987,8491.0m1.1m964,449977,304899,991946,701981,361979,6721.1m
10/15 668,321665,334585,082506,209438,235364,390294,826243,656124,97415,286
10/11 18,60018,60018,60018,6006,2006,200-6,2006,2006,200
100 -------18,60018,60018,600
101 -------12,40012,40012,400
11 ------6,200---
1100/10 ------6,200---
13 3,4675,9428,41710,89213,3671,8601,8601,8601,8601,860
130/1 1,8601,8601,8601,8601,8601,860----
130 ------1,8601,8601,8601,860
1311 1,8601,8601,8601,8601,8601,860----
132 1,6074,0826,5579,03211,507-----
14 646,254640,792558,065476,717418,668356,330286,766235,596116,9147,226
16 5361,3612,1863,0113,836-----
168 5361,3612,1863,0113,836-----
17/49 318,992365,144505,277455,229535,232535,601651,875737,705854,6981.0m
17 35,56586,422192,622182,792271,333333,599454,015577,049697,607788,825
170/4 35,56586,422192,622182,792271,333333,599454,015577,049697,607788,825
42/48 280,381277,018304,955270,684263,226201,585197,265159,465156,151252,884
42 60,428111,180106,20088,541127,900120,416123,034120,558117,51685,860
43 2,6493282626181087--
430/8 2,6493282626181087--
44 18,47418,87043,9239,3082,8448,2174,7794,2754,6301,150
440/4 18,47418,87043,9239,3082,8448,2174,7794,2754,6301,150
45 44,83176,86546,53764,85151,25751,06828,70929,25126,19518,772
450/3 44,83176,86546,53764,85151,25751,06828,70929,25126,19518,772
47/48 153,99969,774108,268107,95881,20821,87440,7345,3737,810147,103
492/3 3,0451,7057,7011,7526734175961,1919401,951
Income statement
9900 58,729161,730148,993102,681126,673116,594102,39259,69757,70249,560
630 43,85743,85732,12215,16512,6199,34217,58517,58517,58518,134
640/8 2,6534,4098,0928,6027,7315,2323,7751,8674,965813
9901 12,219113,464108,77978,914106,323102,02081,03240,24435,15230,612
75/76B -42-----100,085100,09583
75 -42-----100,085100,09583
65/66B 7,5368,9568,2416,9959,29711,58013,88915,60618,24517,195
65 7,5368,9568,2416,9959,29711,58013,88915,60618,24517,195
9903 4,683104,551100,53871,91997,02690,44067,143124,723117,00213,500
780 825825825825289-----
680 ----4,125-----
67/77 2,52025,12422,49017,17019,34520,87515,9736,0417,3134,415
9904 2,98780,25278,87355,57473,84569,56451,170118,682109,6899,086
789 2,4752,4752,4752,475868-----
689 ----12,375-----
9905 5,46282,72781,34858,04962,33869,56451,170118,682109,6899,086
Appropriation of the result
9906 646,254640,792558,065476,717418,668356,330286,766235,596116,9149,086
14P 640,792558,065476,717418,668356,330-----
691/2 ---------1,860
6920 ---------1,860
Document PDFPDFPDFPDFPDFPDFPDFPDFPDFPDF

The notes to these accounts have 7 items, including the statement of assets and debts, the cost breakdown and rights and commitments. You find them in the accounts filed with the NBB.

Source: Annual accounts 2026 at the NBB, filed on 21-10-2026.

Download as CSV

Filings

each dot is a set of accounts, on the day it reached the National Bank
Financial year Type Filed Reference Document
31-03-2026 abbreviated format 21-10-2026 2026-00566392 PDF
31-03-2025 full format 14-10-2025 2025-00541381 PDF
31-03-2024 full format 30-10-2024 2024-00519064 PDF
31-03-2023 full format 24-10-2023 2023-00490669 PDF
31-03-2022 full format 28-10-2022 2022-20475036 PDF
31-03-2021 full format 21-10-2021 2021-72900518 PDF
31-03-2020 full format 28-10-2020 2020-65300083 PDF
31-03-2019 micro format 22-10-2019 2019-71100448 PDF
31-03-2018 full format 22-10-2018 2018-69800591 PDF
31-03-2017 full format 21-11-2017 2017-70000009 PDF

Key figures and ratios

per financial year, computed from the annual accounts
Line Trend2026202520242023202220212020201920182017
56,076157,321140,90194,079118,942111,36298,61857,82952,73748,747
46,844124,109110,99570,73986,46478,90768,755136,267127,27427,220
00161,3221,60370,22500038,469941,230
---9,430-6,40619,717-37,3881861,850-14,863-
-277,046-273,550-284,638-249,746-242,995-201,061-159,373-104,498-120,459-117,034
67.7%64.5%53.6%52.5%44.8%40.5%31.1%24.8%12.8%1.4%
0.010.010.070.080.080.000.190.340.230.54
0.480.550.860.901.221.472.213.036.8468.28
0.4%12.1%13.5%11.0%16.9%19.1%17.4%48.7%87.8%59.4%
0.3%7.8%7.2%5.8%7.6%7.7%5.4%12.1%11.2%0.9%
7.4417.5717.1013.4512.79-----

EBIT margin: not included in this filing.

A Belgian filing has no cash-flow statement. Cash flow is therefore an approximation, derived from the income statement. Investment is the acquisitions in the notes and, without them, the balance-sheet move.

Investments

fixed assets acquired
Item31-03-202631-03-202531-03-202431-03-202331-03-2022
Tangible fixed assets--€161,322€1,603€70,225
€43,857€43,857€32,122€15,165€12,619

Source: notes to the 2022 to 2026 annual accounts (statement of fixed assets)

Insights on MATHICO

The operating result for 2026 is 89% lower than in 2025 and the lowest since 2017.

Debt's share of the balance-sheet total falls from 35.4% to 32.3%. Equity is higher and debt is lower.

Board & ownership

Board

2 directors, last change in 2023
Statutory director
since 19-06-2015 term without a fixed end
also on the board of 1 other company
listed in the 2026 annual accounts, filed on 21-10-2026
Statutory director
since 19-06-2015 term without a fixed end
listed in the 2026 annual accounts, filed on 21-10-2026
Signing authorityThe articles say who may bind the company, for example by signing a contract.
Two directors jointly
deed of 01-03-2023

Office holders in the KBO →

Mandates through the years

2 names, the dashed line is today
Board
Mandates as a list
  • MAMBOUR Delphine Stephanie Ghislaine
    • Statutory director, from 19-06-2015 to date
  • Thirion Laurent André Noël Ghislain
    • Statutory director, from 19-06-2015 to date

See the board, name and registered office on a given date →

Control

Capital

Contribution
€18,600
Source
2026 annual accounts

Articles of association

deed of 01-03-2023 (in French)
DurationMost companies exist for an unlimited period, until they are dissolved.
Unlimited
Annual meetingThe shareholders approve the annual accounts, among other things, at the annual meeting.
Last day of September at 20:00
Liquidation ruleIn a liquidation the creditors are paid first. What is left goes to the shareholders.
“Aucun liquidateur nommé, dettes état article 2:71 §2 alinéa 2 remboursées ou sommes consignées,confirmé par commissaire ou réviseur ou…”

Network & group

Holdings

own accounts to 31-03-2026, the bar shows equity in euros
This companyMATHICO2 holdings, 1 country accounts to 31-03-2026

Belgium 2 Equity Result

Source: list of holdings in its own 31-03-2026 accounts. Every holding stands with its own latest accounts.

Holdings and subsidiaries

2 holdings · 2 subsidiaries, including indirect ones

Holdings 2

Share, source and own figures per holding (2)

Source for every holding own accounts 31-03-2026

  • Equity €675,360 Profit of €1,628 in 2025 (profit of €15,882 in 2024) Checked score 95
    100%
  • Equity €1.3m Profit of €50,837 in 2025 (profit of €65,396 in 2024) Checked score 79
    1%+ 99% via subsidiaries
All subsidiaries, including indirect ones 2

MATHICO or one of its subsidiaries holds more than half of the shares of these companies. A company it consolidates per the LEI register is listed too.

Holdings through the years 2017 to 2026
Holdings through the years
Name2017201820192020202120222023202420252026
DAPSENS - SOYER IMMO 100%
DAPSENS - SOYER 1%

Source: list of holdings in its own accounts

Connections & network

2 current directors
Depth

The network lets you explore the ties of MATHICO.

This company Company Director Shareholding +N: links not shown yet Click a node to look further, drag to arrange, zoom with the mouse wheel.

Timeline

Timeline

19 events since 2015

Deadline for the 2027 accounts: 31-10-2027

2026
Annual accounts 2026 filed NBBabbreviated format · 10 days before the deadline
Weakest financial year net €2,987 ▼96.3% The net result drops to €2,987, the lowest from 2017 to 2026.
2025
Registered in the Peppol Directory Reachable for e-invoices through 0208:0632644787
Annual accounts 2025 filed PDFfull format · 17 days before the deadline
2024
Annual accounts 2024 filed PDFfull format · 1 day before the deadline
2023
Annual accounts 2023 filed PDFfull format · 7 days before the deadline
Equity above €500,000 equity €506,209 ▲15.5% With a profit in every financial year since 2017, equity grows to €506,209.
Appointments: Mambour Delphine Stéphanie Ghislaine (statutory director) and Thirion Laurent André Noël Ghislain (statutory director)General meeting of 20-02-20233 points ▸

Open the deed in the Belgian Official Gazette

2022
Annual accounts 2022 filed PDFfull format · 3 days before the deadline
2021
Annual accounts 2021 filed PDFfull format · 10 days before the deadline
2020
Annual accounts 2020 filed PDFfull format · 3 days before the deadline
2019
Annual accounts 2019 filed PDFmicro format · 9 days before the deadline
Highest result from 2017 to 2026 net €118,682 ▲8.2% The net result of €118,682 is the highest of those years.
Equity above €200,000 equity €243,656 ▲95% With a profit in every financial year since 2017, equity grows to €243,656.
2018
Annual accounts 2018 filed PDFfull format · 9 days before the deadline
Equity above €100,000 equity €124,974 ▲718% With a profit in every financial year since 2017, equity grows to €124,974.
2017
Annual accounts 2017 filed PDFfull format · 21 days late
2015
Incorporation PDFpublished on 24-06-2015
First establishment Rue de Wattines (C.W.) 15, Leuze-en-Hainaut

Financial milestones sit on the financial year-end date, not the filing date.

Sources: Publications in the Belgian Official GazetteFilings with the National Bank

History

MATHICO was incorporated on 22 June 2015.1 Total assets went from €981,361 in 2019 to €987,849 in 2026.2

  1. 1KBO register
  2. 2National Bank, annual accounts 2019 and 2026

Company details

Identity

Enterprise number
0632.644.787
VAT number
BE 0632.644.787
Peppol ID
0208:0632644787
Other Peppol ID
9925:BE0632644787
Legal form
Private limited company
Status
Active, normal situation
Founded
22-06-2015
Financial year
ends on 31 March
Annual meetingThe shareholders approve the annual accounts, among other things, at the annual meeting.
Last day of September at 20:00
deed of 01-03-2023 (in French)
Peppol
Reachable since 22-11-2025Follow this company and you will hear the next morning if it leaves the Peppol register.
Name
MATHICO in French
Entity type
Legal entity
DurationMost companies exist for an unlimited period, until they are dissolved.
Unlimited
deed of 01-03-2023 (in French)
Registered office clauseThe articles name the region of the registered office. The language of official documents depends on that region, among other things.
“Région Wallonne”
deed of 01-03-2023 (in French)

Activities

NACEBEL 2025
Codes under NACEBEL 2008
70220 Business consulting main activity
82990 Other business support services

Registered office and establishments

1 establishment
Establishment Since Unit number
Rue de Wattines (C.W.) 15 registered office 7903 Leuze-en-Hainaut 22-06-2015 2.243.297.026

Buildings and parcels at the address

Ground area
3,790 m²
Buildings
200 m²
Volume, LiDAR
1,436 m³
Tallest building
9.3 m
Buildings to scale, each on its own parcel
200 m², 9.3 m 200 m², 9.3 m

Location

registered office establishment The establishment unit on the map

Parcels

Cadastral parcelArea Buildings Height / floors
57020B0983/00F0003,790 m² 1 · 200 m² 9.3 m · 2